Dow Jones Industrial Average plunges over 1,000 points, sinks into correction; S&P 500 falls 100 points

New York: US stocks have plunged more than 1,000 points for the second time this week and the stock market was now in a correction -- 10 percent off its record high just two weeks ago, the media reported. The Dow finished with a decline of 1,033 points or 4.15 percent to 23,860.46 on Thursday, the second-worst point drop in history, eclipsed only by Monday's historic 1,175-point nosedive, reports CNN .The S&P 500 dropped 100.66 points, or 3.75 percent, to 2,581.00. The Nasdaq Composite Index tumbled 274.82 points, or 3.90 percent, to 6,777.16.[caption id="attachment_4342883" align="alignleft" width="380"]

Reuters image.[/caption]Analysts said the rising bonds yields dented investor sentiment. The country's 10-year yield nearly surpassed a four-year high of 2.885 percent in the morning trading on Thursday, a level that helped trigger a global sell-off in equity markets on Monday, reports Xinhua news agency.On the economic front, in the week ending on February 3, the advance figure for seasonally adjusted initial claims was 221,000, a decrease of 9,000 from the previous week's unrevised level of 230,000, the US Labour Department said on Thursday.The four-week moving average was 224,500, a decrease of 10,000 from the previous week's unrevised average of 234,500. This is the lowest level for this average since March 10, 1973 when it was 222,000.